Kabul Bank’s ex-bosses jailed, fined (Video)

KABUL (PAN): A special tribunal on Tuesday handed down prison sentences to Kabul Bank’s former executives and ordered them to return hundreds of millions of dollars they had stolen.

Ex-chairman of Kabul bank Sher Khan Farnoud and former chief executive officer Khalilullah Ferozi were found guilty of stealing $278 million and $530 million respectively.

While announcing the long-awaited verdict on the big-time banking scam, Judge Shams-ul-Rahman Shams sentenced each of the two executives to five years in jail.

Abdul Qadeer Fitrat, the former central bank governor who has fled to the US, was sentenced in absentia. He slapped with a two years imprisonment term. 

The scandal left Afghanistan’s largest private lender teetering on the verge of collapse in 2010, prompting the government to take over part of the troubled bank and inject more than $800 million into it. Pajhwok/ Ataullah Khpulwok and Obaidullah Hussam